Prime Central London Report Q2 2017
About the report
Despite recent headwinds, there are reasons to be optimistic about the Prime Central London residential market. Our latest market update shows greater stability during Q2 2017 with transaction levels improving in both the sales and lettings markets.
Our report highlights the following key points:
• Transaction levels in the sales market increased during Q2 2017 and pricing at the lower-end of the market held firm.
• The market above £5m is more sensitive but we expect the sales market to continue its acclimatisation during the remainder of this year and to be on a firmer footing by the start of 2018.
• Activity has also picked up in the lettings market during Q2 but rental values continue to decline as oversupply issues persist.
• Stronger transaction activity in Q3 will provide some respite and we expect the market to have rebalanced by the end of this year.